Fulcrum Metals plc has secured exclusive non-cyanide technology licensing to recover metals from its tailings projects in Kirkland Lake and the Timmins and Kirkland Lake mining regions in Ontario, Canada.
POTENTIAL
The company signed a four-year master licence agreement (MLA) to use Extrakt Process Solutions LLC’s proprietary technology to develop gold mine waste at the Teck Hughes and Sylvanite sites.
Fulcrum said that an estimated “in situ value of more than US$700 million” in gold, gallium, tellurium and silver were above surface and ready for processing.
Tests at Teck Hughes resulted in increased gold recovery rates of up to 59.4% and reduced leaching times by 60%, with potential for further improvements.
The exclusivity agreement with the Kentucky-based technology firm can be extended for up to a total of 12 years.
“I am delighted we have signed the MLA and to be collaborating with Extrakt in applying their cutting-edge non-cyanide technology that has delivered breakthrough results on our projects,” said chief executive Ryan Mee.
“We look forward to working with Extrakt to develop and unlock the substantial above surface mineral wealth at our Teck Hughes and Sylvanite projects and strengthen our exposure to other sites under this milestone exclusivity arrangement.”